Zomato-paytm stocks at lowest level since listing

Zomato-paytm stocks at lowest level since listing

Zomato-Paytm Share Price: Today has been a bad day for the Indian stock market.  The Sensex and Nifty have crashed for the fifth consecutive trading session.  Shares of Zomato and Paytm, meanwhile, have been under pressure.  Both the stocks are trading at the lowest level for the first time since listing today.  
Zomato-paytm stocks at lowest level since listing


Zomato's share price was Rs 76.  Zomato's shares were listed in July 2021.  The issue price of Paytm shares was Rs 2,150.  Shares of Paytm were listed in November, 2021.

 Zomato and Paytm Shares 

Zomato fell 18% in early trading on January 24.  At 10.20 am, Zomato shares were down 10.43% at Rs 92.50.  The stock has lost more than 25% in the last five trading sessions.  In addition to Zomato, Paytm shares are trading at Rs 924, down 4% on January 24. Food delivery platform Zomato was listed on July 2021.  The issue price of the company was Rs.  The stock is currently 30 percent above the issue price.  While Paytm was listed at Rs 2150.  The stock is trading at Rs 924, 57% below the issue price

 According to Mint, Chief Investment Strategist of Geojit Financial Services V.K.  "Global market trends are very bad. S&P closed down 8% and Nasdaq 15% from its all-time highs last week. Tech stocks fell sharply last week. European markets are also continuing to decline," Vijayakumar said.

 Vijay Kumar said that a particular trend in the sale of tech shares is that investors are leaving large numbers of non-profit tech stocks.  This trend is affecting Zomato and Paytm stocks in India.

 The first day of the week, January 24, saw a sell-off in the domestic market for the fifth day in a row amid a slump in global markets.  In early trade, the Sensex slipped to 58,900 and the Nifty to 17,600.  The focus today was on stocks like Reliance, Vodafone, Idea, Airtel, Federal Bank, Paytm, Ultratech Cement, CSB Bank and Bandhan Bank.  Today is the result of companies including Axis Bank, HDFC AMC, Burger King India, SBI Cards & Payments and IIFL.

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. www.Tradtips.com suggests its readers to consult with their investment advisers before making any financial decision.)
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